How Much is Car Insurance for Single Moms in Toledo?

Establishing which companies quote the most affordable auto insurance rates for single moms may require a bit more effort than just picking a company at random. Each auto insurance company has a proprietary formula to establish rates, so let’s take a look at the auto insurance companies with the most affordable rates in Ohio.

It’s important to understand that Toledo auto insurance rates are impacted by many factors which can substantially decrease or increase your annual premium. Turning one year older, moving across town, or getting a few speeding tickets can trigger changes in premium resulting in some rates now being much cheaper than others.

Cheap Insurance Rates for Single Moms

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Cheapest Ohio car insurance ranked by price
Rank Company Cost Per Year
1 Utica National $654
2 Allied $669
3 Erie $681
4 Frankenmuth $701
5 Travelers $726
6 USAA $733
7 Merchants Insurance Group $778
8 Cincinnati Insurance $779
9 Motorists Mutual $792
10 Grange Mutual $828
11 General Casualty $837
12 Central Mutual $840
13 Hastings Mutual $893
14 State Farm $894
15 Westfield $908
16 Atlantic States $931
17 Western Reserve $932
18 Auto-Owners $958
19 Progressive $982
20 Farmers $1,005
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Utica National generally has some of the cheapest car insurance rates in Toledo at around $654 a year. This is $386 less than the average policy premium paid by Ohio drivers of $1,040. Allied, Erie, Frankenmuth, and Travelers also make the cut as some of the more affordable Toledo, OH insurance companies.

In the above example, if you buy coverage from Frankenmuth and switched to Allied, you may realize an annual savings of about $32. Insureds with Travelers might save as much as $57 a year, and USAA insureds might cut rates by $64 a year.

Understand that those premium estimates are averages for all drivers and vehicles in Ohio and do not take into consideration a specific vehicle garaging location for single moms. So the insurer that fits your needs best may not even be in the list above. That underscores the importance of why you need to get rate quotes from many companies using your own driver data and vehicle information.

One of the many components that are looked at to help calculate auto insurance rates is your address in Toledo. Regions with larger populations or more claims tend to pay slightly more, whereas areas with lower vehicle theft rates and fewer weather claims get the luxury of paying less.

The following table lists the most expensive places in Ohio for single moms to purchase a policy in. Toledo comes in at #2 with an annual cost of $1,229 for coverage, which is approximately $102 monthly.

How much does car insurance cost in Toledo, OH?
Rank City Average Per Year
1 Youngstown $1,235
2 Toledo $1,229
3 Cleveland $1,222
4 Cleveland Heights $1,202
5 Columbus $1,199
6 Cincinnati $1,186
7 Euclid $1,175
8 Dayton $1,154
9 Akron $1,135
10 Hamilton $1,135
11 Springfield $1,072
12 Canton $1,069
13 Fairfield $1,063
14 Newark $1,063
15 Beavercreek $1,058
16 Cuyahoga Falls $1,037
17 Lakewood $1,031
18 Middletown $1,024
19 Mansfield $1,022
20 Kettering $1,020
21 Parma $1,007
22 Strongsville $1,001
23 Elyria $995
24 Mentor $978
25 Lorain $975
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Rate information is estimated as zip code location can alter premium rates noticeably.

The vehicle you are insuring is a significant factor when quoting cheap coverage for single moms. Vehicles with limited top-end speed, advanced safety features, or a positive history of liability claims will cost quite a bit less to insure than fast, unsafe models. The next list outlines insurance rates for some of the cheapest automobiles to buy insurance for.

Cheapest Vehicles to Insure in Toledo, OH
Insured Vehicle Estimated Cost for Full Coverage
Ford Escape XLS 4WD $1,233
Honda CR-V EX-L 4WD $1,261
Chevrolet Equinox LS AWD $1,457
Toyota Tacoma X-Runner 2WD $1,533
Volkswagen Jetta SE 4-Dr Sedan $1,563
GMC Sierra 3500HD SLE Crew Cab 2WD $1,591
Honda Accord EX 2-Dr Coupe $1,641
Ford Edge SE 2WD $1,657
GMC Sierra Denali Crew Cab 4WD $1,667
Toyota Prius $1,679
Ford F-150 FX2 Super Cab 2WD $1,694
Dodge Grand Caravan CV $1,700
Ford Explorer XLT AWD $1,694
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Prices do not factor in specific location information which can change coverage prices noticeably.

Looking at the rates, we can assume that vehicles like the Ford Escape, Honda CR-V, and Chevrolet Equinox are most likely to be some of the most affordable vehicles to insure for single parents.

The information below illustrates how your choice of deductibles can raise or lower annual premium costs when getting quotes for cheap insurance for single moms. The premiums assume a married female driver, comp and collision included, and no discounts are factored in.

As shown above, a 50-year-old driver could save $156 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $234 by changing to a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, could potentially save up to $384 or even more just by choosing higher deductibles when buying full coverage.

When raising deductibles, it is important to have enough funds in savings to enable you to cover the extra out-of-pocket expense that is associated with using high deductibles.

Do you need full coverage?

Buying cheaper auto insurance should be important to the majority of drivers, and one easy way to buy cheap insurance for single moms is to buy only liability coverage. The chart below shows the difference between insurance premiums with full physical damage coverage and with liability coverage only. The costs are based on a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no other discounts are factored in.

As an average, physical damage insurance costs an additional $1,750 per year more than carrying just liability coverage. That is a large expense and it proposes the question if you should buy full coverage. There is no exact formula of when to drop physical damage insurance, but there is a general convention. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let’s assume your vehicle’s settlement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $8,000 after paying the physical damage deductible. If it’s costing you more than $800 a year for your policy with full coverage, then you may need to consider dropping full coverage.

Low rates can quickly become overpriced

Toledo, OH auto insurance rates are determined by lots of factors that will increase or decrease the cost of having a policy. Getting older, having a claim, or getting a reckless driving citation can cause premium changes that can make some companies more affordable than others.

Not only may your risk profile change, but insurance companies change the rates they charge in Ohio multiple times each year to adjust for gains or losses. Higher than normal claim frequency or severity can cause increased policy costs, while a better loss history may cause cheaper Toledo car insurance rates.

To illustrate this example, the bar chart below shows the company with the cheapest car insurance in Toledo, OH for a 35-year-old female driver with a clean driving record, no accidents, and good financial standing. When comparing rates based on her personal profile, Utica National may have the most affordable car insurance rates in Toledo at $792 each year. This is $248 less than the average policy premium paid by Ohio drivers of $1,040. Erie, Allied, Frankenmuth, and USAA also make the list of the best Toledo, OH auto insurance companies.

The next chart shows rates after we give the driver from the first rate comparison an accident surcharge, a lower credit rating, and a traffic ticket or two. Because every insurance company uses their own formula to set their prices, analyzing rates may result in a different set of the cheapest car insurance companies in Toledo as shown below.

Cincinnati Insurance now has the lowest car insurance rate in Toledo with Merchants Insurance Group, Motorists Mutual, Grange Mutual, and General Casualty completing the list. This shows why Toledo drivers need to spend some time comparing rates to get the most economical auto insurance quotes for single moms.

Car insurance prices can be determined by many factors and can change substantially, so the most affordable company the last time you shopped around may now be quite expensive.

The insurance agencies listed below can provide answers to your questions and help you determine which car insurance policy is best, as many people would rather get help from a professional when comparing insurance rates for single moms. It’s not always simple to find the best rates on your own, and a professional agent can give you comfort knowing you have enough coverage if you have a claim.

To locate a Toledo insurance agent near you, click the button below the list.

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